[Funding alert] MinIO becomes a unicorn after a $103M Series B round

MinIO Inc., creators of the MinIO multi-cloud object storage suite, has raised $103 million in Series B funding at a $1 billion valuation, according to an official statement. The company is the fourth unicorn of the year. 

The investment was led by Intel Capital with participation from new investor SoftBank Vision Fund 2, and existing investors Dell Capital, General Catalyst and Nexus Venture Partners.

Today’s financing brings MinIO’s total funding raised to $126 million.

With headquarters in Palo Alto, California, MinIO has a subsidiary in Bangalore, India and is rapidly expanding their engineering footprint in that geography. MinIO has dozens of customers across India, Asia and the Middle East.

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MinIO COO and Co-founder Garima Kapoor noted,

“With Indian organisations becoming cloud first, it represents an important market for MinIO to focus on and invest in as we enter into the company’s next phase of growth and expansion.”

Founded in 2014, MinIO is a high performance, Kubernetes-native, S3 compatible object store for a broad range of data storage use cases. Its performance dramatically exceeds comparable object stores, delivering tens of gigabytes of data per node in throughput. 

Backed by Intel Capital, Softbank Vision Fund 2, Dell Technologies Capital, Nexus Venture Partners, General Catalyst and key angel investors, the performance characteristics have made MinIO the object store of choice for leading machine learning frameworks, analytics applications, databases, web applications and other performance-oriented workloads. MinIO’s architecture is renowned for its simplicity and scales from TBs to EBs easily.

“Object storage has been the primary storage of the public cloud and with the adoption of Kubernetes, has become the primary storage for the private cloud and edge as well,” said Jishnu Bhattacharjee, Managing Director of Nexus Venture Partners. 

“MinIO has established itself as the leader in the space and Nexus is proud to have partnered with AB, Garima, and team MinIO from Day 1, in their journey of building this category-defining company.”